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Britvic completes acquisition of Bela Ischia

03 March 2017 07:28

Britvic has completed its acquisition of Bela Ischia Alimentos Ltda for R$218m (£56.8m).

As previously announced, Bela Ischia revenues were R$160m and EBITDA was R$18.5m in 2016.

Britvic said: "Bela Ischia is a strong and well recognised consumer brand with its largest presence in the key areas of Rio de Janeiro and Minas Gerais.

"The acquisition strengthens both Britvic's brand portfolio and distribution footprint by complementing our existing strengths in Sao Paulo and the north east."

The combined businesses are expected to realise substantial cost savings, principally from efficiencies in procurement, production, logistics and administration; it is therefore anticipated that the acquisition will generate at least R$10m of cost synergies.

It is anticipated that exceptional costs of approximately £3.5m will be incurred this year in relation to both the acquisition and integration of Bela Ischia.

Britvic will publish its Interim results on 24 May.

Story provided by StockMarketWire.com

Related Company: BVIC

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